Euro Survives Downbeat ECB and Weak PMIs, Safe for Now
Euro has been under broad based pressure today after PMIs suggest more weakness in the economy ahead. The common currency then spikes further lower ECB President Mario Draghi sounds rather cautious and downbeat in the post meeting press conference. However,...
Euro’s Recovery Might be Cut Short by Weak PMIs and Cautious ECB
European majors are trading generally higher today as Eurozone will take the center of stage. There are worries of deeper and longer than expected slowdown in the Eurozone economy. PMIs from Germany, France and Eurozone will provide some hints on...
Sterling Shines as Campaign to Block No-Deal Brexit Gains Momentum
Sterling is the star performer today as campaign to block no-deal Brexit in the UK gathers momentum. Some upside acceleration is seen after the Pound takes out near term resistance against Dollar, Euro and Yen. New Zealand Dollar is following...
Yen Lower after BoJ Downgrades Inflation Forecasts, Sterling Pressing Near Term Resistance
Risk sentiments stabilized in Asia today despite the selloff in US overnight. But so far, momentum for rebound in stocks is very weak. Major indices are stuck in right range between gains and losses, in particular in China and Hong...
Yen Strengthens With Markets in Mild Risk Aversion, Australian Dollar Tumbles
Mild risk aversion is the main theme in the financial markets today. Selloff started in Asia, in particular in China, and spread to European session. Japan 10-year JGB yield also turned negative again. In the currency markets, Australian Dollar leads...
Sterling Soft on Brexit Stalemate, Yen and Dollar Higher
Sterling is trading lower in Asian session today as UK Prime Minister Theresa May’s uninspiring statement did nothing to break the stalemate. But, commodity currencies are equally weak, if not weaker, following decline in the stock markets. There is no...
Dollar Attempting to Rise in Mixed Holiday Markets, Near Term Resistance Still Holds
The forex markets are rather mixed and quiet today. Trading has also become a bit subdued as US is on Martin Luther King day holiday. But UK Prime Minister Theresa May’s Brexit plan B might still trigger some volatility. For...
Chinese Data Show Stabilization Sign, UK May’s Brexit Plan B Awaited
The financial markets are rather quiet today. Asian stocks trade higher despite data showing China’s growth in 2018 slowed to lowest since 1990. But December data painted a picture of stabilization. Also, there is optimism on US-China trade talks, despite...
Trade Optimism Lifted Stocks, Yields and Dollar
Brexit and US-China trade negotiation were the two major themes last week. After a week of drama, it’s still unclear exactly what kind of Brexit deal would get through the Parliament. There’s some anticipation for UK Prime Minister Theresa May...
Canadian Dollar Jumps on CPI and Oil, Sterling Pares Gain after Weak Retail Sales
Canadian Dollar strengthens mildly in early US session and is trading as the strongest one for today so far. Recovery in oil price has been supporting the Loonie through the day. And, further lift is given by stronger than expected...
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